BANK OF CHINA (03988.HK): Completes issuance of RMB 20 billion write-down perpetual capital bonds at coupon rate of 1.86%

NewTimeSpace News: On 24 August 2026, Bank of China Limited (stock code: 03988) announced that, with the approval of the relevant regulatory authorities, the Bank issued write-down perpetual capital bonds in the national interbank bond market on 20 August 2026, and the issuance was completed on 24 August 2026.

The announcement stated that the issuance size of the bonds is RMB 20 billion, with a coupon rate of 1.86% per annum for the first five years, adjusted every five years thereafter, and the issuer's redemption right is attached at the fifth year and every subsequent interest payment date. The proceeds will be used, in accordance with applicable laws and the approval of the regulatory authorities, to replenish the Bank's additional Tier 1 capital.

The issuance was made pursuant to the resolution approved by the shareholders' meeting of the Bank held on 18 July 2025, authorizing the issuance of capital instruments of no more than RMB 450 billion or the equivalent in foreign currencies.

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